FTSE retreats on oil stocks and weak company results

LONDON Oct 30 (Reuters) - UK shares fell on Friday, pulled
lower by some disappointing company results, with oil firms
falling after the price of crude retreated on weak U.S. economic
growth data.

The blue-chip FTSE 100 index was down 0.4 percent at
6,370.02 points by 1134 GMT, although it was headed for its best
monthly performance since July 2013.

"I'm still of the theory that this is a bear market rally,"
Jasper Lawler, market analyst at CMC Markets, said.

"I think no one ... can confidently say that we are going to
be breaking out higher into the next leg of the bull market
right now, and with the uncertainty, and the fact that we've
already had a good, strong move higher, leads me to think that
maybe we could be about to turn down."

"This reversion looks like little more than profit-taking
off the back of the good news, but as has been noted this is a
cyclical industry and how much more upside is left does present
a reason to be cautious," Trustnet Direct market analyst Tony
Cross wrote in a note.

Royal Bank of Scotland retreated 1.7 percent after
posting a loss in third-quarter results and warning that future
costs relating to litigation and past misconduct could be
substantially higher than expected.